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Thu November 15 2018

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Silverdell wins Canadian power plant decommissioning

14 Jan 13 Silverdell has signed a contract with Hydro Québec, Canada's largest electricity generator, for the decommissioning and parts re-sale of its redundant Tracy thermal power plant.

The project is worth approximately £12m in revenues to Silverdell.

Under the terms of the agreement, Silverdell will market approximately 37,000t of re-usable plant, equipment and metals for industrial sale. The group will then undertake the decommissioning of the power plant, including asbestos removal, dismantling and the sale of the reusable assets.

Work is scheduled to start in the second quarter of this year and is expected to complete within 12 months.

Silverdell had acquired decommissioning and dismantling services specialist EDS last year.

"A key part of our growth strategy, 'changing the landscape', as set out in our preliminary results statement last December, is to leverage our enhanced scale and capability to exploit new market opportunities worldwide,” said Silverdell chief executive officer Sean Nutley. “That is exactly what we have done with this contract. The acquisition of EDS afforded us entry to the high value global decommissioning and re-sale market with a project which is ideally suited to our end-to-end service offering."

MPU

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